Investments

Tuesday, April 24th 2012 - 21:52 UTC
Independent oil company plans major expansion in Chile, Argentina and Colombia

Latin American independent oil and gas explorer GeoPark Holdings Ltd is planning a major expansion of its activities in 19 licensed blocks in three countries with the purpose of significantly increasing oil and gas production in the next 18 months, according to a report released by the company.
Tuesday, April 24th 2012 - 06:38 UTC
S&P downgrades Argentina’s outlook to ‘negative’ spurred by policies enacted since October 2011

Rating Agency Standard and Poor’s (S&P) downgraded Argentina’s economic and financial outlook to “negative,” after the expropriation of YPF, which endangers the “B” rating the country has for its sovereign debt.
Tuesday, April 24th 2012 - 06:20 UTC
S&P downgrades Repsol’s rating; sees no compensation payment in near-term

Rating Agency S&P announced on Thursday it was downgrading Spain-based energy company Repsol-YPF after Argentina’s government announced the expropriation of 51% of its shares. The rating was lowered from BBB to BBB (minus), the agency said in a statement.
Tuesday, April 24th 2012 - 06:16 UTC
BMW sales in Brazil drop 30% because of tax rise; factory investment on hold

Bayerische Motoren Werke AG (BMW), the world’s largest luxury automaker, posted a 30% drop in first-quarter sales in Brazil due to a tax rise for imported cars, said Henning Dornbusch, the company’s country head.
Tuesday, April 24th 2012 - 03:57 UTC
YPF nationalization bill does not contemplate compensations, says Kirchnerite Senator

Senator from the Argentine ruling majority and former cabinet chief, Aníbal Fernández assured that the government “will pay the real price for the expropriation of YPF and not what Repsol’s chairman (Antonio Brufau) wants.”
Tuesday, April 24th 2012 - 01:51 UTC
Colombia offers to mediate in the YPF conflict between Argentina and Spain

Colombia is available to mediate between Spain and Argentina to find a solution to the dispute over the seizure of YPF from Repsol, said Colombian Vice-president Angelino Garzón.
Tuesday, April 24th 2012 - 01:23 UTC
Spain’s Repsol threatens companies investing in seized YPF with legal actions

Spain’s main oil corporation Repsol warned it could take legal action against companies that invest in YPF after Argentina seized control of the Spanish company's energy unit last week.
Monday, April 23rd 2012 - 09:37 UTC
Gas condensate discovered in Falklands South basin in first well drilled by B&SP

Borders & Southern Petroleum Plc energy explorer operating in the Falkland Islands announced on Monday the discovery of gas condensate in the first well drilled to a depth of 4.867 meters.
Monday, April 23rd 2012 - 09:33 UTC
YPF seizure approved by 62% of Argentines, according to opinion poll

The recent decision by President Cristina Fernandez to seize a majority stake in YPF from Spain’s Repsol has the approval of 62% of Argentines, while 23% disagree according to a public opinion poll from Poliarquía published in the Sunday edition of La Nacion.
Sunday, April 22nd 2012 - 23:01 UTC
Argentine seizure of YPF will be addressed at the June G20 meeting in Mexico

The Argentine government decision to nationalize Spain’s Repsol owned YPF will be discussed in June in Los Cabos, Mexico, during the G-20 summit.